This Taco Bell is brand-new construction and is a rare NNN asset within the New York metropolitan area. The completely passive Ground lease features a 20-year term and is backed by a corporate guarantee from a national credit-rated tenant (Yum! Brands). There are scheduled 10 percent rental increases every five years throughout the base term and each of the four renewal options, making this asset an extremely secure investment.
This asset is strategically located within a high barrier-to-entry market just 11 miles from John F. Kennedy International Airport in the New York City suburb of Freeport. This Taco Bell is sits at the southeast corner of Merrick Road and South Long Beach Avenue, which see combined traffic counts of nearly 30,0000 vehicles per day. Nearby national tenants include Bank of America, CVS and McDonald’s. The site is also near Woodward Children’s Center and several local schools.
The trade area immediately surrounding the property is extremely dense. More than 13,000 workers living within five miles of the property boast average annual household incomes of nearly $126,000. Additionally, the site benefits from its easy access to more than 1.4 million residents within just 10 miles.